Monday, 28 November 2011

Britain is the place to be for hotel developments

When it comes to the hotel industry, there is good news for the British. According to recent reports, the United Kingdom could be destined for some serious action in the hotel industry in the coming years who will need catering equipment.

Of course, as we are bombarded at every turn with gloomy economic outlooks and miserable stories of spiraling debt and unemployment, long projections for recovery rates in the markets and other such tales, this is indeed welcome news.

The UK was picked out as the place of choice for development schemes for new hotels, as reported in a Deloitte survey, which has been carried out recently. According to reports, a healthy 46% claimed that they would pick the UK rather than France, Germany, Italy and Spain for their new projects which might need catering equipment. The runner up was Germany, which had almost a third of the votes. France had 16% and came in third place of preference.

There is another encouraging statistic too – according to PKF, the regional hotels in the country had an increase of 2.2% occupancy in September.

However, all is not completely rosy on the horizon. Reported quotes from Nick van Marken at Deloitte has said that the general picture is still uncertain when it comes to the global industry.

As you may well guess, one of the problems in terms of future investment is the issue of confidence in the market. Sadly, although the results of the Deloitte survey are positive, there is still room for improvement in terms of expectations of optimism and investors putting their money where their mouths are.